Yearly Archives: 2015

Understanding consumer proposals A consumer proposal is a formal, legally binding document. When filing for a consumer proposal, you will need the assistance of a Credit Counsellor or trustee who will help you develop a proposal that offers all your creditors a percentage of what you owe them in a set amount of time, usually […]

Consumer proposal and its impact on credit rating Overwhelmed with debt and looking for relief? Wondering if bankruptcy is your only option? Well the good news is that it’s not. Individuals struggling with debt issues are often looking at consumer proposals as a solution with benefits like a reduced impact ton their credit rating as […]

Filing for bankruptcy may seem like your last resort but it is not always the best option. Consumer proposals conversely seem a more suitable alternative. In order to understand why it is a better alternative, continue reading to find out how consumer proposals apply to your personal status quo. Paying off your hard earned money […]

Going bankrupt is a shameful state to be in. Having to file for bankruptcy is a thing we all hope never to face in our lives. There are a number of repercussions to go through when you consider filing for a Bankruptcy. But it doesn’t mean that your life, career or financials can never be […]

While most consumer proposals are filed individually, it is also a possibility to file for a joint consumer proposal. When two people have nearly substantial debts they are eligible to file a joint consumer proposal, legally referred to as “commonality of debt”. Debts however don’t have to be identical but as a general rule of […]

An alternative for someone who is unable to pay his debts is full but can pay a small sum of it, Consumer proposal is his best option. It is a legally-binding agreement between the creditors and individual where one negotiates to pay a fixed percentage of money within fixed time duration to settle the debt. […]

Debt traps: The Hidden Expenses Business Dictionary defines debt trap as “An incentive structure that lures individuals into accepting long-term debt obligations under conditions that strongly favor the lender. Victims of debt traps are often prevented from discharging the debt through techniques such as unusually high or variable interest rates, changing payment plans, and unreasonably […]

Whenever we hear the word bankruptcy, an image of an irresponsible individual struggling to control his budgets or pay his debts comes to mind. Bankruptcy is often considered a disgrace. It is a word people want to stay away from, as far as they can. A number of people file for bankruptcy as they are […]

What is Consolidation? Debt consolidation is essentially a technique that enables you to pay all of your withstanding debts through one single loan on lower interest rates and monthly payments. But before considering it your very last resort, make sure you are assessing all your options sensibly. Thoroughly examine; • Your outstanding balance • Interest […]

How heavenly would it seem if all our bills were paid on time and loans and money borrowing went out of the equation? Sounds ideal, yet of course hypothetical, at the same time. Financial troubles often come with ringing warning bells. Spotting them early with a proactive approach will always minimize repercussions later. Lack of […]

GTA Credit Solutions is an Ontario-based financial consulting firm with a dedicated, professional staff of Registered & certified counselors.

If you’re living under the weight of out-of-control debt, fear for the future, and can’t go one more day without taking steps to get your life in order, we are here to help. For individuals as well as for businesses, coming to GTA Credit Solutions can immediately begin to lift the burden.